When Firecalc says I can withdraw a certain amount per year, does that mean the amount I can withdraw from retirement savings assets, or does it include pension and social security.
For example if I told it I get $17,000 social security and -$8,000 pension and it says my 100% safe withdrawal rate is $34,000, does that mean I can withdraw $34,000 from savings, in addition to social security and pension? That is, $59,000 total available for spending ($34,000 + $17,000 + $8,000).
Or does it mean I would have $34,000 total spending money available including SS and Pension (which would mean I can only withdraw $9,000 from retirement assets ($34,000 - $17,000 - $8,000)?
For example if I told it I get $17,000 social security and -$8,000 pension and it says my 100% safe withdrawal rate is $34,000, does that mean I can withdraw $34,000 from savings, in addition to social security and pension? That is, $59,000 total available for spending ($34,000 + $17,000 + $8,000).
Or does it mean I would have $34,000 total spending money available including SS and Pension (which would mean I can only withdraw $9,000 from retirement assets ($34,000 - $17,000 - $8,000)?